SAINT-HERBLAIN, FRANCE – Lacroix Electronics recorded revenue for the December quarter of €79.2 million (US$96 million), down 0.8% year-over-year. Sales were dragged down by lower aeronautics demand due to the pandemic, says the EMS company.

On a like-for-like basis, Lacroix Electronics reported revenue down 1.9% year-over-year. On a 12-month pro forma basis, revenue fell 14.5%.

Lacroix Group reported revenue for the December quarter of €128.1 million, up 2.2% year-over-year. On a like-for-like basis, growth was 1.6%.

For the 15-month period from Oct. 1, 2019 to Dec. 31, 2020, the group generated revenue of €566.3 million, up 17.6%. On a pro forma 12-month basis for 2020, revenue fell 10.1% to €441 million.

Lacroix is changing its fiscal year, and therefore included five “quarters” in its fiscal year 2020.

"After an incomparable financial year in many ways, whether with regard to the impact of the pandemic or the change in our fiscal year period, Lacroix Group ended the year on a very satisfactory note, which is a testament to the strong resilience of our model,” said Vincent Bedouin, chairman and CEO, Lacroix Group. “With the prospect of a forthcoming end to this crisis and despite the caution imposed by this unprecedented period, we are particularly confident in our ability to quickly return onto the path to growth and to incorporate this into the ambitious strategic plan that we will unveil in April.”

The marked recovery in trading in the 4th and 5th quarters will be positively reflected in the results for the 2019-2020 financial year.

2021 will be a pivotal year for the group, with the unveiling of a plan that will underpin the group’s development for the next five years, the details of which will be unveiled on Apr. 7, Lacroix says.

Ed.: €1 = US$1.21

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